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20130109
20130109
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Search Results 0 to 19 of about 20 (some duplicates have been removed)
likely is you can solve the debt ceiling issue and also save money? >> that will complete the depend on everybody coming to the table. we have the senate that things one thing in the house that thinks something different to. and tell there on the same page it is tough. the senate has not passed a budget in four years? it makes it difficult to do a budget agreement. so we have to get to the table. our hope is they will put out a budget. >> congressmen where should we cut spending? >> start with everything from 2007. we spend $1 trillion more per year than 2007 with a bunch of small items say why has this increased in five years' time? 2007 inflation-adjusted we would be almost in balance right now. we talk about 100 billion but we're at one point* $1 trillion. so get every single item whether it is free cell phones or in panama programs. gerri: is in the entitlement programs front and center where we should cut spending? how would you bring the president and democrats to the table? >> i have no idea. the president said that spending is not the problem. when we increase spending $1 tri
the debt ceiling issue? farfetched? but maybe the platinum proposal should not be taking people by surprise. >> so the republicans are clearly in a strong position, but the president might have a trick up his sleeve. >> is there a magic bullet to solve the crisis? try a magic coin. some economists, legal scholars and now even a congressman are suggesting a 1 trillion-dollar platinum coin could be minted and the government could use that to pay the debt, avoid default and preempt the debt ceiling crisis. >> we should have known a coin was obama's solution to everything. it was right there in his slogan. change. [ laughter ] >> bret: so clever. thanks for inviting us into your hom
with brinkmanship on this particular issue. melissa: doug, how serious is it to hit the debt ceiling? what really happens? do we suddenly default? do we stop paying certain parties? what happens? >> this is --. melissa: i'm sorry. i said that to doug real quick. >> okay. >> i mean i would say two things. first, have to point out there is lot of uncertainty in these projections. i made lots of them. many turned out to be badly wrong. that is just part of the business but we shouldn't flirt with the debt ceiling at all. to run up against the debt ceiling is to effectively send a default signal to the rest of the world. there is lot of talk you could pay some bills and not others but in effect you could pay interest and social security and things like that, but you couldn't pay the troops. you couldn't pay for roads, bridges, basic research, education. simply nothing to flirt with. you would either scare the international community to death or deprive people of basic services. we should have an agreement. that we shouldn't do anything but raise the debt ceiling. we should have an agreement we should
and the budget resolution as well as the bigger issue around the debt ceiling. and then we need to get to the longer-term issues in terms of where america is going, and that starts with tax reform as well as immigration issues and infrastructure issues. >> i hear the same message from business people across the country. we need more certainty from washington if we're going to kick start growth in this economy. is washington helping or hindering in a bid to bring unemployment down in the country? >> being the optimist that i am, i say washington is attempting to help. what was passed at the end of the calendar year was a good first start. but there's a lot more that needs to be done. they are helping. if we can get past some of the partisanship and get into citizenship, we can move along a lot more quickly. businesses are frustrated. >> what are the bigger things you mentioned, the things america needs to do to stay competitive in this challenging economic environment, domestically and globally? >> absolutely. first, you've got to get through the fiscal issues. balance in the deficit an
for defense secretary to the debt ceiling. not to mention the very hot-button issues of gun control and immigration reform. some say the president might actually be itching for the fights. joining us now juan williams, fox news political analyst. is he spoiling for a fight here, juan? >> i think this lame duck has some bite, jon. i think he feels at the moment that he has won the majority of the american vote twice now. at is strongest he will be for some time. you think how a lame duck starts to lose political power in this town after about six to eight months. so this is his moment of maximum leverage, jon. he is going to try to use it, i think, to force things through. i think that is why he is, decided that the nomination like chuck hagel, which is fairly controversial, nonetheless is sure to be a winner for him because he's got the power of the presidency at a moment when he feels, you know, it is never going to be more powerful for him and in the rest of the second term. jon: i made that observation the other day because chuck hagel is not popular among some, even in the repub
resolutise the debt ceiling. those are issues that will hurt the business community, the defense industry, which they are loathed to antagonize. the contention that somehow republicans are going to sit this one out and not be hurt is wildly misguided, at best. >> it's absolutely -- i think right now we can see that all of the weakness in the economy is the responsibility of the republican party, right? i'm just going to say it, right? there are so many things we could have been doing to rebound this economy, put americans directly back to work, the american jobs act, uncertainty on the investment side, but really the bread and butter of people getting to work, money going into communities is not happening because of the republican party. when we look back in history, that's the big tragic moment in history. >> the banner of blame, i salute you, my friend. >>> coming up, a former fed official likens aig's suit against the government to a patient suing their doctor for saving their life. we will examine said patient and others cured by bailouts when ezra klein joins us just ahead. >>> time
as the bigger issue around the debt ceiling. and then we need to get to the longer-term issues in terms of where america is going, and that starts with tax reform as well as immigration issues and infrastructure issues. >> i hear the same message from business people across the country. we need more certainty from washington if we're going to kick start growth in this economy. is washington helping or hindering in a bid to bring unemployment down in the country? >> being the optimist that i am, i say washington is attempting to help. what was passed at the end of the calendar year was a good first start. but there's a lot more that needs to be done. they are helping. if we can get past some of the partisanship and get into citizenship, we can move along a lot more quickly. businesses are frustrated. >> what are the bigger things you mentioned, the things america needs to do to stay competitive in this challenging economic environment domestically and globally? >> absolutely. first, you've got to get through the fiscal issues. balance in the deficit and budgets, number one. and then we need to ge
] this came up last year and you said the president had the power to ignore the debt ceiling. i'm wondering given the president's insistence he would not negotiate over the debt ceiling this time around, is the white house considering revising that issue [inaudible] >> our position on the 14th amendment has not changed. let's be clear. congress has the responsibility and the authority to raise the debt ceiling. congress must do its job. it is important as we approach the deadline that people understand we're talking about. sometimes the language of the use in the phrases we use make this a lot more mysterious for average folks out there that needs to be. raising the debt ceiling is authorizing congress to pay the bills it has racked up. this is not about future spending. this is about you going to the store and charging some goods on your credit card. you pay the bill. the byner states has always paid its bills. congress has the responsibility and authority to do that. the president will not negotiate over it. let me go to reuters. jack lew was [inaudible] he worked for a group [inaudible]
.s. was growing faster. we were in safe port in the storm. as you discussed a moment ago with the debt ceiling looming and other issues it is not clear that premium is justified today and there may be better opportunities overseas. tracy: what does that mean then? we're talking about emerging middle class in emerging countries and does that mean consumer staples used in those countries are really good plays for people right now? >> actually i think that's been a good play for the last few years but what i would advocate own the emerging markets directly. one thing people have done since 2010, you owned staples, you owned companies in the u.s. who sold to those consumers the problem now many of those companies, particularly in the staples sector have gotten quite expensive. tracy: that's true. >> on the other hand emerging market stocks are rather cheap trading at 20 to 25% discount to developed markets. that is where i see one of the better opportunities for 2013. ashley: russ, what about fixed income? you believe the bull market in treasurys is over. where should that money go? >> you know, w
it comes to the debt ceiling, well, i'm putting in the guy you didn't want to negotiate with. >> exactly, and that goes to the op-ed by moore on monday that the president doesn't believe there's a spending issue at all and this hand-picked selection probably has similar views. >> oh, boy. already. put your seat belts on and get ready for a rough ride again. thanks, guys. we'll keep digesting this and watching the news. scotty? >> let's check in with seema modi to find out what's moving at the nasdaq today. >> have to start with facebook. shares continue to stage a strong comeback, stocks hitting 30 bucks a share, first time since july of 2012. a lot of anticipation about what facebook will announce at its mystery press event next tuesday. traders seem to be buying into the stock ahead of that event. another space that we'll continue to watch, biotech. a lot of bullish commentary out of that jpmorgan health care conference. that's helping the nasdaq biotech index outperform the nasdaq composite. some of today's winners including regeneron and celgene and there's one name not joining in on
. and talking about these issues and many others when he has the conversations. >> the debt ceiling, you said you're not going to negotiate. republicans are saying they have to cut. how are we not heading for a washington-created cliff of some sort? >> well, here are the facts. we have to rise the debt ceiling. they said it's inconceivable we would default, and that's one issue. and that is an issue that is congress' responsibility and they need to fulfill that responsibility and make sure that the united states of america as it has throughout the existence ens raise the bills. we continue to have challenges embodied in one instance by the sequester that we need to resolve in concert with congress. and the need to do that presents an opportunity to in a balanced way achieve further significant deficit reduction. the president, as you know, twice now has pursued a big deal with speaker boehner that in its totality would have achieved over $4 trillion in deficit reduction over a decade. because of the nature of those negotiations, and the inability of the speaker to in the end reach a comprise
with immigration, it has to deal with what one hopes gun issues, with the debt ceiling, they are their band is not broad enough for them to undertake another major examination of something where they will say, hey we just did that. let's see how it plays out. you also don't have a consensus right now. truth be told, i don't think the votes are there to revisit these issues. you have a republican block that wouldn't go for anything stronger and a lot of democrats that wouldn't be there. i don't think we will get new legislation. we may get rule making but another legislative effort i don't think that will happen. >> the think about the sec, something that has come out recentlied, the sec has asked for corporations to release how -- what their political activities are. >> it's funny, i have been calling on shareholders to make the same demand of corporations for many years. one of the things, in the last moment here, i think ownership trumps regulation. we own these through our pension funds, the endowments universally have shares, mutual funds which we invest
on issues of the european debt ceiling so he does have that breadth, as well. just a slightly different background and more budget focused background. >> christine romans with the latest. >>> another big talker at the white house is the national debate over guns. it is front and center from the white house to the governor's mansions. vice president biden meeting with victim's advocacy groups. he leads the panel to reduce gun violence. new york governor is expected to propose new gun regulations in his state of the state address in the next hour. and we will have a chat with piers morgan who has found himself under fire in the debate. joe biden says he is listening to all sides in the debate. >> i want to make it clear that we are not going to get caught up in the notion unless we can do everything we are going to do nothing. it is critically important we act. and there are certain things i know a great deal about almost all of the organizations. i have read what you have published and spoken to. and there is a pretty wide consensus on three or four or five things in the gun safety area
is not -- [talking over each other] [talking over each other] >> remember that timothy geithner said that the debt ceiling was january 31. just trying to mesh that with the fiscal cliff. and the republicans said no, separate issue. it is also a separate issue from the sequester. and what the republicans have said and what they told the president to a year and a half ago. the president lost, but likins won on the question of if we wanted to raise the debt ceiling because obama is overspending. you have to cut spending dollar for dollar by the same amount. speaker boehner has reiterated that that is enough. so has mitch mcconnell. the president of united states can stand up and say that i lied to you and i said i wanted to reduce running. i like you, and i said i was going to offer government reforms. but if he does that, i think he isn't is in a very weak position and democrats are killing themselves if they think that the american people want to continue overspending. and the debt that obama is running out. we can give the president a month of debt ceiling increase or six months or year. then you
. >> the issue right now and the conversation has been the debt ceiling, which we are about to smack up against. the doom and gloom reporter every morning about the debt ceiling. so spending and debt ceiling to a large degree, while they are connected, they are different conversations. debt ceiling, we have spent that money. that a difficult from verizon that has come due you have to pay. >> you are borrowing more money to spend in the future. we are borrowing money to pay off past debts. no. if we weren't doing more deficit spending, we wouldn't have to borrow more money. the debt ceiling, last one could you say, the debate was messy. we didn't get a downgrade because the results of that debate didn't solve the problem. president obama, after he got his tax increase, the tax part of his balanced approach, when he came out and said, okay, now, the debt ceiling is off the table, not going to negotiate it -- >> because it's spent, right? $16 trillion national debt. that's money that has been committed by congress. it's been committed by the very people who will fight over whether we should pay th
for the president to pull the country away from the debt ceiling without giving into republicans. all he needs is treasury secretary tim geithner and a trillion dollar coin. the plan revolves around a loophole in which the coinage act which allows the treasury secretary to issue a platinum coin at any denomination he want so geithner could order a $1 trillion coin mint and use the coin to buy back debt from the fed, pulling us away from the debt ceiling and avoiding another showdown with republicans. this isn't some pie in the sky plan devised by economic wonks or sci-fi fans, it actually has supporters in congress. specifically new york democratic congressman jerry nadler who has proposed bringing the idea to the floor to use as a bargaining chip saying it sounds silly but it is legal and it would normally not be proper to consider such a thing except when you're faced with blackmail to destroy the country's economy, you have to consider things. well put. joining me now is our own platinum panel starring professor at brown university and current contributor trisha rose, forbes contributor ric
over the debt ceiling and this has led some republicans and some upgrade groups as well to advocate that where the congress should try to resolve this issue on its own using what they call regular order. i think what they mean by that is that the congress should go ahead, pass a budget resolution, how that resolution contained reconciliation instructions, which is a fancy phrase for having a tall various committees how much revenues to raise her how much to slow down the purpose then they and maybe to put something horrible and it, what will happen if they don't follow through. we saw how well that worked with the super committee. there's two basic problems with this approach. one is there simply isn't enough time. i suppose they could give themselves more time they temporarily raising the debt limit, post posing the sequester yet he could and extending the cr. but that would be extreme can kicking. but even if they give themselves more time, the congress as a whole hasn't passed a budget resolution must both the house and the senate passed around and the senate hasn't done that for
to the debt ceiling debacle perhaps, you know, we've already heard the bid offer starting. we've heard the democrats say, look, we want more revenues. have we fixed the tax issue? i don't think the markets completely appreciating that part of the debate. $600 billion, i think obama wanted $1.6 trillion. i think boehner got us to 800. that was the bid offer, it never happened. we'll see what happens, i think. the opening bid for the democrats will be -- no, we need more revenue. >> why you -- why are you happy then? >> i'll tell you why. when we sat here in the fall, we said you have to look through the cliff in some ways when you're investing in the market. we expected gains to go to the last day. i expect gain theory to go right to the last day. >> then it will do something. >> then, guess what, are we going to default on our debt? highly unlikely. >> we'll do something half -- that's good enough because the u.s. economy is resilient. >> i hate to say it -- >> he said half [ bleep ]? >> no, he said we're making progress step by step. while it's hard to see it through all of this, he l
Search Results 0 to 19 of about 20 (some duplicates have been removed)